LG, Investing 15.1 Trillion Won in South Korea’s Battery Sector for 10 years
NSP NEWS, By soon ki Lee Journali
END7
(Seoul=NSP News Agency) soon ki Lee Journalist = LG unveiled a blueprint to make Korea a hub for global battery technology and talent by investing 15.1 trillion won by 2030.
Kim Jong-hyun, CEO, of LG Energy Solution announced domestic investment strategy, including three key tasks, at the ‘K-Battery Power Generation Strategy Reporting Contest’ held at LG Energy Solution’s Ochang Plant 2 site on the 8th.
At this meeting, Kim Jong-hyun, CEO, said, “Like Neil Armstrong first set foot on the moon, LG started mass-producing lithium-ion secondary batteries for the first time in Korea in 1999. and has expanded its business to major automakers around the world since 2009 when it applied lithium-ion batteries to cars in cooperation with Hyundai Motor for the first time in the world,” “We proved our technical skills by setting a record of No. 1 in the world with 24,000 patents, No. 1 in the market share of electric vehicle batteries, and No. 1 in the world in production capacity.” LG Energy Solution’s backlog on orders for electric vehicle batteries surpassed 180 trillion KRW based on current standards.
Kim Jong-hyun, CEO, of LG Energy Solution announced domestic investment strategy, including three key tasks, at the ‘K-Battery Power Generation Strategy Reporting Contest’ held at LG Energy Solution’s Ochang Plant 2 site on the 8th.
At this meeting, Kim Jong-hyun, CEO, said, “Like Neil Armstrong first set foot on the moon, LG started mass-producing lithium-ion secondary batteries for the first time in Korea in 1999. and has expanded its business to major automakers around the world since 2009 when it applied lithium-ion batteries to cars in cooperation with Hyundai Motor for the first time in the world,” “We proved our technical skills by setting a record of No. 1 in the world with 24,000 patents, No. 1 in the market share of electric vehicle batteries, and No. 1 in the world in production capacity.” LG Energy Solution’s backlog on orders for electric vehicle batteries surpassed 180 trillion KRW based on current standards.
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Kim Jong-hyun, CEO, said that in order to solidify the world’s No. 1 position in next-generation batteries, the company is promoting three core tasks : ▲Establishment of a Triangular Hub for Domestic Battery R&D and Production Technology ▲Development of Battery Professionals by establishing LG IBT ▲Strengthening Value Chain through cooperation with materials, parts, and equipment businesses.
To this end, CEO Kim emphasized, “LG(LG Energy Solution, LG Chem) will invest a total of 15.1 trillion won in South Korea, including 9.7 trillion won in R&D sector over the next 10 years and contribute to the creation of 8,000 jobs in South Korea.”
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